Biomed pioneer expanding to S.A.

Mir Imran of San Jose, Calif., a leading medical devices inventor and entrepreneur, will establish three new companies in San Antonio.

Published 8:48 pm, Wednesday, June 9, 2010

Mir Imran of San Jose, Calif., one of the world's leading medical device inventors and entrepreneurs, will establish three new companies and expand his Silicon Valley incubator and life sciences venture capital fund in San Antonio, the Express-News learned Wednesday.

A source told the Express-News the Texas Emerging Technology Fund is expected to grant more than $9 million in incentives to the three companies being established in San Antonio by Imran, chairman and CEO of InCube Labs. InCube is the incubator firm that will expand to San Antonio.

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"This is a major win for San Antonio," a source close to the situation said Wednesday. "It will draw in high-paying jobs in the biosciences. It also can be a spark for local venture capital in the future."

The source said about $30 million already has been raised from local investors in Imran's venture capital fund in anticipation of the fund's expansion here.

Imran holds about 250 patents and has created 22 companies, 20 of which still exist. Fifteen of them have been purchased by other medical device industry giants. Imran uses the proceeds of the sales to form new companies.

The names of the three companies Imran plans to establish in San Antonio were not available Wednesday evening, but the firms have been in development at InCube Labs.

Imran, 54, assisted in the development of the first-approved automatic implantable cardioverter defibrillator, which is used all over the world in patients in danger of sudden cardiac death. The device was sold to Eli Lilly & Co. and now is part of Guidant, part of Boston Scientific Corp. Imran also is the inventor of the full-body scanners used at security checkpoints in airports around the world.

Imran was born in Hyderabad, India. He came to the United States in 1973 to attend Rutgers University, where he studied electrical and biomedical engineering.

He also is chairman and CEO of Modulus Inc., a manufacturing and product development company focused on the medical device market.